Ather Energy, the Bengaluru-based electric scooter manufacturer, has joined the unicorn club with a $71 million investment from the National Investment and Infrastructure Fund (NIIF), valuing the company at around $1.3 billion. This comes after raising over $125 million in the past three months, signaling a potential IPO.
True Balance, initially a mobile recharge platform, saw its revenue soar to Rs 667 crore in FY24 after shifting focus to lending in FY21. This marks a 74X growth from FY19’s Rs 8.95 crore, driven by its entry into personal loans and securing its own NBFC license.
New Haven-based biotech firm Halda Therapeutics secured $126M in Series B extension funding, totaling $202M to date. The funds, raised with participation from leading investors including Deep Track Capital and RA Capital Management, will support the development of Halda’s novel cancer therapies, RIPTACTM therapeutics.
Copenhagen-based ABH Optics raised €1M in Pre-Seed funding led by High-Tech Gründerfonds (HTGF). The startup, founded in 2022, will use the funds to advance and commercialize its ultra-thin, lightweight, and eco-friendly meta-optic eyeglass lenses, targeting high-prescription users.
CE Info Systems, parent of MapMyIndia, reported a 5.1% revenue decline in Q1 FY25, totaling Rs 101.5 crore compared to Q4 FY24. However, year-on-year income rose 13.5%. The firm is facing legal issues with Ola Electric over data usage, amidst rising operational costs.
Rural fintech startup Jai Kisan has acquired an NBFC license through its strategic acquisition of Kushal Finnovation Capital. This license enabl Jai Kisan to offer customized credit products and co-lend with financial institution supporting over 100,000 rural businesses and facilitating over Rs 6,000 crore in disbursals.
Healthcare startup 4baseCare raised $6 million in a Series A round led by Yali Capital. The funds will enhance product offerings and support expansion across India, Asia, and the Middle East. Founded in 2018, 4baseCare provides precision oncology solutions using genomics, impacting over 10,000 cancer patients in Southeast Asia.
Wealthtech startup Infinyte.Club secured $3.6 million in a funding round led by Elevation Capital, with participation from prominent angel investors like Cred’s Kunal Shah and Meesho’s Vidit Aatrey. Founded in 2023, the Bengaluru-based platform focuses on wealth creation for tech employees, offering private investment opportunities and ESOP liquidity solutions.
E-mobility startup Kazam raised $8 million in a Series A3 funding round led by Vertex Ventures. The funds will enhance Kazam’s technology, expand its market presence, and improve platform offerings. Kazam, co-founded in 2020, builds smart EV charging networks and currently serves over 25,000 charging points across India.
Wealth and asset management firm Neo secured Rs 400 crore ($48 million) in a Series B round led by MUFG Bank and Euclidean Capital, with Peak XV Partners participating. The funds will expand Neo’s wealth management division and support its asset management business. Neo manages Rs 35,000 crore in assets.
